FRANKFURT (AFX) - German finance minister Hans Eichel said he is very concerned about the economic situation in Japan, but does not believe the ongoing crisis will adversely affect the world economy. Speaking in an interview with the magazine Spiegel, Eichel said the current U.S. slowdown does not worry him at present, although this can change.
"What really concerns me is the situation in Japan. The country for some time has been in the zone of death", he said.
But he added: "as this has been going on for a while I do not see any additional danger for the world economy".
On the German economy, Eichel reiterated once more the government will not revise down its forecast of 2.75 pct growth for this year as it does not see "a clear and definite" downward trend.
Eichel noted the European Central Bank and Bundesbank have not adjusted their own forecasts, while the DIHT chamber of commerce has recently published a forecast of 2.8 pct.
He said it is too early in the year to tell what the ultimate outcome will be. "Let's leave things as they are and wait for the developments to happen."
Eichel said even though it is not clear how the economic slowdown will affect tax revenues he has no plans to respond with a new savings programme.
He said he will wait until May, when precise figures for revenue collection will emerge, before taking any action. "Finance ministers only act when there is concrete information", he said.